ISLAMABAD: Over 3,300 Pakistani companies joined the Dubai Chamber of Commerce (DCC) in the first quarter of 2023, confirmed the country’s top diplomat in the United Arab Emirates (UAE) on Friday, adding the development reflected the dynamism of Pakistani businesses and the increasing attractiveness of the UAE as an investment destination.
A total of 30,146 new companies joined the DCC during the first quarter, the chamber said in a statement issued this week. India topped the list with 6,717 new companies, followed by the UAE which registered 4,445 firms. Pakistan ranked third with 3,395 new business entities securing the DCC membership, showing a 59 percent increase from the first quarter of the last year. Overall, the number of Pakistani companies with the DCC has reached 40,315.
A statement quoted Mohammad Ali Rashed Lootah, the DCC president and CEO, as saying that the diversity of nationalities represented among the new companies highlighted the vibrancy of Dubai’s dynamic business environment.
“It is indeed a positive development that underscores the resilience and entrepreneurial potential of the Pakistani business community and diaspora,” Ambassador Faisal Niaz Tirmizi told Arab News over the phone from Abu Dhabi.
He said the development also underscored the strong economic fundamentals of UAE’s economy.
“UAE, under its able leadership, is focused on diversifying its economy through global economic partnerships and will present profitable business opportunities in different sectors in the medium term,” the envoy continued, adding that Dubai was an ideal place from where Pakistan could do business with other Gulf states and the rest of the Middle East.
“During the last year, the number of Pakistani expatriates increased from around 1.6 million to 1.8 million in the Emirates,” he informed while pointing out that Pakistanis were participating in every sector of UAE’s economy.
Tirmizi mentioned that many of those who had arrived in the Gulf country were entrepreneurs, doctors, engineers, bankers, and laborers.
Pakistan’s diplomatic mission facilitated the country’s businesses by maintaining an active liaison with the DCC and sharing new opportunities with the chambers in back home along with members of the Pakistani diaspora.
“In recent years, our trade linkages with the UAE have further expanded, which has encouraged entrepreneurs and businesses based in Pakistan to establish local offices and also register themselves with local chambers,” the ambassador said.
He noted the mission had played its due role in facilitating trade by addressing issues such as the non-tariff barriers.
The embassy also brought several Pakistani firms, belonging to healthcare, food, information technology, tourism and other sectors, to attend trade fairs.
“These events provide entrepreneurs with much needed exposure to markets in the UAE, and many businesses have subsequently established their presence in Dubai,” he added.
Tirmizi said the Pakistani mission had also played its role in fast-tracking a bilateral economic partnership agreement with the UAE which would be signed by the end of September.
“This agreement presents potential opportunities in both goods and services sectors,” he informed. “Businesses, it seems, are positioning themselves to take full advantage of this partnership.”
Speaking to Arab News, Fakhruddin Diwan, chairman of the Pakistan-UAE business council at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), agreed the inclusion of more Pakistani companies in the DCC was a huge achievement.
“With this opening of the UAE market for Pakistani products, we will automatically be able to strengthen our foreign reserves due to an increase in exports,” he told Arab News.
He maintained that Dubai was a hub of international activities and tourism, adding it would also increase the exposure of Pakistani companies to a much wider consumer base across the globe.
Pakistan records over 3,300 company registrations in Dubai Chamber of Commerce in 2023
https://arab.news/6cnat
Pakistan records over 3,300 company registrations in Dubai Chamber of Commerce in 2023
- Business community says the development has opened the entire Middle Eastern market to Pakistani products
- Pakistan registered the third highest number of companies with the DCC after India and the United Arab Emirates
Pakistan, UK launch £10 million higher education partnership
- Pak-UK Education Gateway second phase expands climate research, scholarships, university exchanges
- First phase was launched in 2018 and delivered 165 partnerships, 2,000 joint studies and £5 million in grants
ISLAMABAD: Pakistan’s Higher Education Commission (HEC) and the British Council have launched the £10 million second phase of the Pak-UK Education Gateway, the HEC said on Monday, a joint initiative aimed at deepening collaboration between universities in both countries on research, mobility and higher-education reform.
The program, funded equally by the HEC and the British Council, builds on a partnership launched in 2018 and seeks to strengthen institutional ties between Pakistani and British universities, focusing on shared challenges including climate change, skills development and economic growth.
Education cooperation has become an increasingly important pillar of broader Pakistan-UK relations, as both countries look to expand academic mobility, research collaboration and international recognition of qualifications at a time when higher-education systems face pressure to respond to climate risks, labor-market shifts and funding constraints.
“This £10 million partnership is set to deepen collaboration between UK and Pakistani universities on critical issues like Climate Change and Mobility. A true system-to-system commitment,” the HEC said in an X post.
According to the British Council and HEC, the first phase of the Pak-UK Education Gateway supported 165 institutional partnerships, generated around 2,000 joint research papers and awarded £5 million in research grants. Officials say the second phase aims to build on that foundation as part of a longer-term effort to internationalize Pakistan’s higher-education sector.
“Education is the building block of growth and prosperity. Our work on education in Pakistan supports people throughout their lives: from helping reform education policy at the school level, to our strong partnership in higher education,” British High Commissioner Jane Marriott said in a statement.
“This next phase builds on our already strong relationship, and will unlock opportunities to help both our higher education sectors thrive.”
Opportunities under the second phase include increased funding for scholarships, joint research grants and faculty exchanges, alongside a Start-Up Challenge Fund to support Pakistan-UK university collaborations pursuing commercial opportunities and access to new markets.
The program will also focus on leadership and governance reforms within Pakistan’s higher-education system, including quality assurance, improved campus accessibility for people with disabilities, and greater participation of women in senior leadership roles. It further aims to expand opportunities for Pakistani students to study UK-accredited courses without leaving their home cities, alongside a commitment to mutual recognition of qualifications.
Pakistan’s Minister for Federal Education and Professional Training Khalid Maqbool Siddiqui said the initiative had already delivered concrete results since its launch in 2018, calling education “the bridge that connects people, cultures, and futures.”
Acting HEC Chairperson Nadeem Mahbub described the Gateway as a system-to-system partnership rather than a stand-alone program, noting that it had benefited institutions and students in both countries.
